Oil Ministry: Tankers Are Pivotal To Kuwait's Oil Markets

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, May 20 (KUNA) -- The Oil Ministry affirmed Tuesday that the Kuwait Oil Tankers Company (KOTC) is a strategic pillar of Kuwait's oil sector, representing a pivotal link in delivering Kuwaiti oil and its derivatives to global markets.
This came in a statement by the Ministry's Director of Public Relations and Petroleum Media, Sheikha Tamader Al-Sabah, during a Ministry panel discussion titled "Kuwait's Oil Tanker Fleet: Expansion and Development to Keep Up with Global Demand."
The company's fleet includes modern tankers equipped with the latest navigation systems, smart operating technologies, and emission reduction solutions, reflecting Kuwait's commitment to its responsible role in securing global energy supplies and strengthening its presence among advanced countries in the maritime energy transport sector.
The Oil Ministry reaffirmed to continue to organize such meetings, which contribute to building bridges of cooperation between national entities and support Kuwait's strategic directions in the fields of energy, transportation, and the environment.
For his part, Abdullah Hassan, KOTC's Head of the Fleet Operations Team (Liquefied Gas and Products, reviewed the history of the company, which was founded in 1957 by a group of elite Kuwaiti investors to be the cornerstone of the national maritime oil transportation system.
Hassan stated that KOTC is the main logistics arm of the Kuwait Petroleum Corporation (KPC), operating a balanced and modern fleet of giant crude oil and petroleum product tankers, and liquefied petroleum gas (LPG) carriers.
The company also manages three main activities: maritime transport, shipping agency, and the LPG filling branches in Shuaiba and Umm Al-Aish.
He added that the company has 31 tankers, including 13 VLCCs, 15 petroleum product tankers of various sizes, and five LPG carriers, all fully chartered to KPC.
He emphasized that the company is dedicating its efforts to modernize its fleet continuously to meet the requirements of the Kuwait Petroleum Corporation (KPC) by building or acquiring tankers that incorporate the latest global designs.
The company's committed to complying with international environmental standards and striving to achieve zero emissions, to reduce the carbon footprint and limit carbon dioxide emissions by equipping the fleet with modern systems to monitor and maintain performance. (end)
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